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DoorDash to Acquire UK’s Deliveroo in $3.9 Billion Deal Amid Global Delivery Sector Shakeup

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U.S. food delivery giant DoorDash announced on Tuesday that it will acquire British rival Deliveroo in a $3.85 billion (2.9 billion GBP) deal, aiming to expand its footprint in Europe and compete more aggressively against Uber Eats and Just Eat. The move also marks one of the largest consolidation deals in the global meal delivery space.

The deal values Deliveroo at 180 pence per share, a notable discount from its 2021 IPO price of 390 pence, but a premium to recent trading levels. Deliveroo’s shares rose about 2% following the announcement but remained below the offer price.

Deliveroo CEO and co-founder Will Shu acknowledged the valuation gap, saying the IPO occurred in a very different economic and interest rate environment, and emphasized that joining forces with a larger player would better position Deliveroo to succeed in a crowded and competitive market.

Sector Consolidation Accelerates

The deal comes amid a wave of consolidation in the meal delivery industry, which has faced mounting inflation, dampened consumer spending, and scaling difficulties.

  • Also on Tuesday, DoorDash said it would acquire SevenRooms, a hospitality software firm, for $1.2 billion.

  • Meanwhile, Uber announced an $700 million acquisition of Trendyol Go, strengthening its presence in Turkey and the Middle East.

According to the companies, DoorDash and Deliveroo combined processed about $90 billion in orders in 2024, serving a total of 49 million monthly active users. The acquisition will give DoorDash access to Deliveroo’s largest markets, including the UK, Ireland, Italy, France, and the UAE.

DoorDash CEO Tony Xu noted the deal would allow DoorDash to scale investments in Europe and introduce new products, helping it challenge entrenched local players.

Investor Reactions and Deal Conditions

Despite the long-term growth potential, DoorDash shares fell 7%, partly due to a cautious profit forecast and broader investor concerns about consumer demand.

Deliveroo has secured support from shareholders controlling 15.4% of shares, including Shu, Greenoaks, and DST Global. However, the deal requires approval from 75% of Deliveroo’s shareholders to proceed. Analysts flagged the notable absence of Amazon, which holds a 14.38% stake, as a potential wildcard. Amazon has declined to comment, but remains a possible counter-bidder.

DoorDash stated it will not raise its offer unless another bidder emerges.

The acquisition is not expected to face major regulatory challenges, as DoorDash has little to no presence in Deliveroo’s 10 core markets.

Uber to Acquire 85% Stake in Turkey’s Trendyol GO for $700 Million

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Uber announced on Tuesday that it will acquire an 85% controlling stake in Trendyol GO, Turkey’s fast-growing food and grocery delivery platform, in a $700 million deal. The move marks a strategic push into high-growth international markets as Uber faces market saturation in North America.

Trendyol GO, a subsidiary of Turkish e-commerce giant Trendyol Group, currently delivers food and groceries across the country, partnering with over 90,000 restaurants and markets and utilizing a fleet of 19,000 couriers. The platform fulfilled more than 200 million orders in 2024, with gross bookings of approximately $2 billion, representing a 50% year-on-year growth, Uber said.

The acquisition is expected to close in the second half of 2025. Following the deal, Trendyol GO will retain its independent branding and operations, while Uber plans to gradually integrate elements from its global food delivery platform, Uber Eats.

This expansion comes shortly after Uber dropped its $950 million bid for Delivery Hero’s Foodpanda in Taiwan, citing regulatory issues. Uber’s broader strategy includes expanding its delivery business and exploring self-driving vehicle partnerships to diversify revenue beyond its ride-hailing core.

Meanwhile, competition in the food delivery space is intensifying. DoorDash announced on the same day that it will acquire UK-based Deliveroo for $3.85 billion, aiming to strengthen its European presence and compete more effectively with Uber Eats and Just Eat.

Uber will release its Q1 earnings report on Wednesday, and analysts are watching closely to see how international investments like Trendyol GO might bolster its global growth outlook.